Akhannouch Outlines Economic Measures Amid Global Crises at Government's Midterm Review

Friday 10 May 2024 - 15:40

During a plenary session dedicated to assessing the government's midterm performance, Head of Government Aziz Akhannouch delivered a comprehensive address to the Chamber of Advisors, outlining the economic measures undertaken to support businesses and preserve macroeconomic stability amidst global crises.

Responding to interventions from parliamentary advisors, Akhannouch emphasized the government's success in navigating this challenging phase. He credited a series of interventions for enabling vital economic sectors to regain their usual dynamism.

Akhannouch highlighted the gradual increase in the pace of public investment aimed at maintaining the strength and stability of the state's social projects and supporting citizens and families. He noted that this approach "has enabled us to confront inflation while continuing to implement major reforms at a steady pace."

The Head of Government stressed that the administration "rose to the challenge and had the courage to adopt emergency solutions." These solutions included maintaining electricity tariffs for both domestic and industrial use, with a budget of 9 billion dirhams (MMDH). Additionally, the government provided unprecedented support to the transportation sector amounting to 8 MMDH and implemented emergency programs to mitigate the effects of drought, totaling 20 MMDH, in accordance with Royal Instructions.

Furthermore, fiscal and customs measures were implemented, notably suspending import duties on essential products, particularly in support of professionals in the meat, soft wheat, oils, milk, butter, and legume sectors.

Akhannouch also highlighted the success of the national economy, particularly in the tourism sector, which welcomed 14.5 million visitors in 2023. He also mentioned the crafts industry, whose exports surpassed the 1 MMDH mark for the first time in 2022.

In terms of economic growth, he noted that it stood at 3.2% and is expected to improve to 3.8% in the coming years, driven by the implementation of economic measures.

Regarding the social sphere, Akhannouch underscored that the Executive has undertaken unprecedented and historic structural reforms in the health and education sectors, which constitute the backbone of the social state.

"From the very first day we assumed our responsibilities, we were convinced that attention to these two sectors could not be achieved without considering human resources. And this is what we have tried to implement through the social dialogue mechanism," he said.

In this vein, Akhannouch commended the trade unions for the elevated patriotic spirit they demonstrated throughout the social dialogue. He noted that through this dialogue, it was imperative to benefit the categories that had been deprived for years of improvements to their professional and material conditions.

Furthermore, the Head of Government addressed the findings of the Economic, Social, and Environmental Council's (CESE) opinion on "NEET Youth: What Prospects for Socio-Economic Inclusion?", assuring that it is "a shared concern for all of us."

He stated that the government has not merely diagnosed the phenomenon but has also implemented a number of measures to address it, including education reform and other initiatives such as combating school dropout by paying particular attention to school transportation, school canteens, and boarding facilities, "which will allow us to reduce the dropout rate by a third."

Akhannouch also mentioned the creation of 16 new second-chance centers, which will bring the number of beneficiaries to over 80,000, in addition to the launch of the "Digital Morocco" strategy to train more than 100,000 young people annually in the digital field.

Additionally, he cited the "Awrach" program, which has enabled 50,000 young people to find stable employment, and the "Forsa" program, which has benefited 21,000 companies and cooperatives.